Private education group AdvTech said on Wednesday that it expects profits to rise by about a fifth in its year to end-December, partially due to gains related to its acquisition of Monash SA.
The acquisition agreement for Monash SA, which is now branded as IIE MSA, contained a settlement of an Australian dollar-denominated loan, but due to a delay between the acquisition effective date and the settlement date, a foreign-exchange gain of R6.2m was realised during the company's half year to end-June.
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